Amazon.com Inc said on Thursday it would build a $5 billion second headquarters in North America, kicking off a competition between cities and states to offer incentives and tax cuts that could bring 50,000 new jobs.

The largest e-commerce company said it intended to create a headquarters that would be as important as its Seattle base. It wants a city of more than a million people with an international airport, good education and mass transit.

Incentives from land to fee cuts to relocation packages will be a major part of the decision, Amazon said, and local governments have shown they will go to great lengths to secure jobs and investment. READ MORE …